Rent, population, and median household income are important factors to consider for a 1031 exchange in Larchmont due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Larchmont, New York is a part of the Southern Westchester Submarket submarket area, and contains zip code 10538.
Larchmont Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Larchmont, NY submarket area was $2,155, which is 19.13% higher than 2014 average rent. This represents a compounded annual growth rate of 3.56%. 2019 vacancy in Larchmont, NY was 4.50%.
The total population of the city of Larchmont, NY has grown 3.50% since 2010. As of 2018, the population was 6,069. The median household income of the Larchmont was $213,988, which is 254.91% higher than the national average.
- submarket area Southern Westchester Submarket
- avg rent $2,155
- rent growth 19.13%
- vacancy 4.50%
- median income $213,988
- population (2018) 6,069
- population growth 3.50%
- vs. nat'l avg 254.91%
- zip code 10538